NEW Medius announces two new AI-powered solutions, driving next level AP efficiency. Learn more
Medius uses intelligent technology to reimagine the procure-to-pay process. The Medius suite of business spend management applications allows you to get started with what you need and add more as your business needs shift.
We're proud to share that our Spend Management suite now includes two new AI-powered solutions for both approvers and suppliers: Medius Copilot and Supplier Conversations.
Treat every invoice equally.
Bring the same level of speed and accuracy to every invoice – using a combination of intelligent technologies to electronically capture, digitize, process and pay invoices regardless of their format.
Don't stop until they're paid.
Pay all your domestic and international suppliers via a single channel – integrating Medius AP Automation with Medius Pay to create a simple, secure and streamlined vendor payment process.
Catch fraud in the act.
Half of finance professionals (53%) have been attacked with deepfake scamming attempts. De-risk your spend with Medius Fraud and Risk Detection and gain visibility and control across the invoice to pay lifecycle.
Approvers get answers in an instant, you don’t lift a finger.
Medius Copilot is an intelligent assistant embedded within the AP automation application, specifically designed to assist invoice approvers with questions related to the invoices they’re reviewing. Business users move through invoices faster and AP gets more invoices paid on-time.
Spend less time answering inquiries and more time doing anything else.
Suppliers seeking updates from your AP department can get AI-powered answers in their email inboxes, keeping everyone informed and productive. Talk about a win-win.
On-board suppliers easily.
Suppliers can register, record, and update their details in a single portal, helping you gain control and visibility into all your supplier data.
Source the best suppliers via a process that just works.
Medius Sourcing helps organizations find the best suppliers, improve sourcing cycles and find cost-savings through comprehensive analytics during the negotiation process.
Tired of missing contract
renewal deadlines?
Banish paper from contract management. Medius Contract Management takes the hassle out of renewals with automated alerts, and helps you visualize your contracts with reporting that drills down by type, value, category, expiration date, and more.
Automate the buying process.
Use Medius Procurement to reduce maverick spending and ensure that you're getting the right price from negotiated contracts.
Intelligent expense management.
Expensya by Medius gives you a real-time view into employee expenses. Detect anomalies in your company's expenses so you can optimize your costs.
See, understand, and act on your data.
Get full transparency into spend with interactive dashboards and reports, so you can stay ahead of costs, predict cashflow and increase the accuracy of forecasts and budgets.
Make continuous improvement a priority.
Medius Elevate Advisory Services pairs you with subject matter experts who work as an extension of your AP team, consistently helping you increase adoption and compliance across your organization and reach your organization’s efficiency goals.
Join Medius Senior Solution Consultant, Hillary Anderson, as she walks through some of the features of Medius AP Automation that our customers use daily. Hillary regularly works with clients in the presales process and has seen first-hand the value and impact AP automation provides each specific organization. Choose from the video links below to learn more.
If you adopt one of our spend management software solutions, our Professional Services team
will guide you through the onboarding and enablement process.
AI/ML addresses the short comings of rule-based automation by creating autonomous engines for invoice management. Where automation dictates that a certain set of actions happen when the trigger event occurs, autonomous, through AI/ML, dictates that the right set of actions happen when triggered, even when the underlying details shift. It is a subtle but powerful difference. Consider how an autonomous system allows approvals to flow to the appropriate person even when certain aspects of the approval flow shift and change due to absence, job changes, project team movement, and so forth — all without human intervention. Powerful.
We’ve gathered everything you need to know about the accounts payable process, the efficiency KPIs to measure, and the latest AP benchmarks. Our report presents benchmark values derived from thousands of AP teams around the world so that you can compare your results with the average and best-in-class companies.
Plus, you’ll get top tips on how to improve efficiency for further acceleration and automation of the invoice process.
Business spend management (BSM) refers to the comprehensive process of managing and controlling a company's expenditures across various categories, including procurement, accounts payable, supplier management, and expense management.
Business spend management software is a comprehensive suite of tools designed to streamline, automate, and optimize a company's spending processes. This software encompasses various functions, including procurement, accounts payable, travel management, and supplier management. By providing real-time visibility and control over expenditures, business spend management software helps organizations reduce costs, improve compliance, and enhance financial performance.
Medius' Business Spend Management software leverages advanced technologies like AI and machine learning to detect anomalies, prevent fraud, and ensure that all spending activities are efficient and transparent.
Business spend management software streamlines financial processes, enhancing efficiency and cost savings. It offers real-time visibility into spending, automated invoice processing, procurement management, and expense tracking, reducing manual work and errors. Additionally, it improves supplier management, speeds up payment cycles, and ensures compliance with advanced fraud detection tools, leading to better financial performance and control.
When selecting a spend management solution, look for features such as comprehensive spend visibility, automated invoice processing, procurement management, and expense tracking. Ensure it offers integration with existing ERP systems, real-time analytics, and reporting capabilities. Additionally, robust security measures, compliance management, and advanced fraud detection are essential for protecting financial data and ensuring regulatory adherence. Scalability and user-friendly interfaces are also important for adapting to your organization's needs and promoting adoption.
Spend management tools enhance financial oversight by providing real-time visibility into all spending activities. They automate data collection and processing, reducing errors and manual effort. These tools offer detailed reporting and analytics, helping organizations identify spending patterns, detect anomalies, and make informed decisions. By centralizing procurement, invoicing, and expense management, spend management tools ensure compliance, improve budget control, and enhance overall financial accountability.
Spend management encompasses all aspects of managing an organization's expenditures, including procurement, invoicing, payments, and supplier relationships. It aims to optimize overall spending, control costs, and ensure compliance.
Expense management, on the other hand, focuses specifically on tracking and controlling employee-initiated expenses such as travel and entertainment. While spend management covers a broader scope, expense management deals with the detailed monitoring and reporting of individual employee expenses.
Yes, our business spend management software seamlessly integrates with existing ERP systems. This integration ensures a unified workflow, allowing for real-time data synchronization and streamlined processes across procurement, invoicing, payments, and expense management. By connecting with your current ERP system, Medius enhances visibility, accuracy, and efficiency in managing business spend.
Medius spend management tools can manage various types of spend, including direct and indirect procurement, accounts payable, employee expenses, and contract management. These tools provide comprehensive oversight and control over all financial transactions, ensuring efficient and transparent management of your organization's expenditures.
Business spend management encompasses all processes involved in managing an organization's expenditures. This includes everything from sourcing to procurement to accounts payable and expense management. Effective spend management ensures that businesses can control costs, prevent fraud, and maintain financial transparency.
Implementing business spend management software is essential for organizations looking to optimize their financial operations. It helps in reducing unnecessary expenses, enhancing supplier relationships, and ensuring compliance with regulatory standards. By leveraging advanced technologies, businesses can gain better visibility and control over their spending, leading to improved financial health. Benefits include:
Invoice Capture (2:13 mins)
